In its export policy, figure Venezuela reaching increasingly dependent on lower volume products in the neighboring country, but with hopes of increasing exports in the incorporation of our country to the South Market. After the Brazilian electricity crisis in 2001-2002, the dynamic has become more complex, so the commercial support of Venezuela, will provide internal stability in this area, and the ability to leverage the third largest gas reserves Latin America, increasing its holding in the short term. VENEZUELA Moreover, where it is known that Venezuela's exports to Brazil have also declined in recent years, but like Brazil, a recovery in the Venezuelan economy could mean a four times higher placement within the MERCOSUR. Brazil today is of particular importance for Venezuela, for its strategic significance in the national aspirations of the MERCOSUR regional pact. Jack Fusco has many thoughts on the issue. Venezuela is the eighth largest natural gas reserves worldwide, with proven reserves of 148.9 trillion cubic feet, widely dispersed in the country.
Additionally, 91% of them are jointly associated gas oil production, and the remaining projects are in underdeveloped and hence require the agreement of technical support and training in Brazil. The oil industry requires 70% of gas for reinjection and local use and only 30% goes to the domestic market, which would be the pipeline would pass through the South, covering a supply per day through it, which not justify the investment. Thus, the pipeline would at the least technical and economic sense in generating income for the nation in relation to the volume of investment required in its construction and operations.